We received the GDP numbers from the fourth quarter of 2022 this morning, and while the economy still produced at a pretty solid rate, it did cool down a little bit. We’ll see how this rally in January will shake out, and if Jay Powell has plans to throw some cold water on things next week.
Here’s what I’ve been reading this morning:
‘Perfect is the Enemy of Good’ – Ben Carlson – A Wealth of Common Sense
- Drawing inspiration from a new show on Hulu, Ben uses this example to discuss how people are constantly worrying about how rich they are relative to those around them. And trying to earn more income comes with trade-offs in life that you may or may not be willing to make.
‘FOMO: The Worst Financial Trait’ – Morgan Housel – Collaborative Fund
- Similar to Ben’s article, Morgan writes about how eliminating the fear of missing out from your list of traits is the most important thing an investor could do. Not worrying about what other people are doing allows you to focus solely on your own goals.
‘Wait For It’ – Josh Brown – The Reformed Broker
- Josh is having flashbacks to tech companies in 2000 reporting earnings. Similar to 2000, he says we’re in a “ignore the numbers, wait for the call” phase with companies where the forward outlook is changing despite still strong earnings.
‘Here’s Why Your Tax Refund May Be Smaller This Year’ – Kate Dore – CNBC
- The window to file your 2022 tax return is open now! So what should you expect from this year’s return? This article discusses a few reasons why your usual tax refund may be smaller than in previous years.